Cox & Kings Ltd to open QIP

The Board of Directors of Cox & Kings Ltd at its meeting held on November 20, 2014 decided to open the Issue to be undertaken in accordance with the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the "SEBI Regulations").

The floor price in respect of the Issue, based on the pricing formula as prescribed under Regulation 85 of the SEBI Regulations is Rs. 309.18 per equity share of the Company, and the 'relevant date' for this purpose, in terms of Regulation 81(c)(i) of the SEBI Regulations, is November 20, 2014.

Pursuant to the intimation received from the Promoters of the Company dated October 10, 2014, the Board also decided to allot 7,250,000 warrants to Standford Trading Private Limited, a promoter group entity, on preferential basis subject to necessary approvals as may be required at a price that shall not be less than the QIP price.

Shares of Cox & Kings Limited was last trading in BSE at Rs.308.05 as compared to the previous close of Rs. 315.75. The total number of shares traded during the day was 259257 in over 10412 trades.

The stock hit an intraday high of Rs. 316 and intraday low of 298. The net turnover during the day was Rs. 79254183.

Source : Equity Bulls

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